Topic: Internal Revenue Service
Washington, D.C. – All income is taxable unless the law excludes it.
Taxable income includes money you earn, like wages and tips. It also includes bartering, an exchange of property or services. The fair market value of property or services received is taxable.
The Internal Revenue Service gives you some basic rules you should know to help you file an accurate tax return.
Montgomery County, TN – The Montgomery County Sheriff’s Office has received reports that several citizens have been contacted by someone purporting to be with the Internal Revenue Service in an effort to defraud them.
Since we are currently in tax season, many more citizens may be contacted by someone saying that they are with the Internal Revenue Service.
Across the country, citizens have been called by scammers using common names and fake IRS badge numbers.
Washington, D.C. – When you sell a capital asset the sale results in a capital gain or loss.
A capital asset includes most property you own for personal use or own as an investment.
The Internal Revenue Service gives 10 facts that you should know about capital gains and losses. «Read the rest of this article»
Washington, D.C. – The best way to get your tax refund is by direct deposit. Here are five good reasons to join the 84 million taxpayers who chose direct deposit last year.
You should deposit your refund directly into accounts in your own name, your spouse’s name or both. Don’t deposit it in accounts owned by others. Some banks require both spouses’ names on the account to deposit a tax refund from a joint return. Check with your bank for their direct deposit requirements.
Washington, D.C. – The Internal Revenue Service issued a consumer alert today providing taxpayers with additional tips to protect themselves from telephone scam artists calling and pretending to be with the IRS.
These callers may demand money or may say you have a refund due and try to trick you into sharing private information. These con artists can sound convincing when they call. They may know a lot about you, and they usually alter the caller ID to make it look like the IRS is calling. They use fake names and bogus IRS identification badge numbers. If you don’t answer, they often leave an “urgent” callback request.
Washington, D.C. – The Internal Revenue Service and the Treasury Inspector General for Tax Administration continue to hear from taxpayers who have received unsolicited calls from individuals demanding payment while fraudulently claiming to be from the IRS.
Based on the 90,000 complaints that TIGTA has received through its telephone hotline, to date, TIGTA has identified approximately 1,100 victims who have lost an estimated $5 million from these scams. «Read the rest of this article»
Clarksville, TN – Currently, Clarksville citizens, along with citizens in nearly every state in the country, are getting phone calls from individuals stating they are from the IRS and are demanding money. This is a scam!
The Clarksville Police Department is advising that Clarksville citizens receiving these calls to hang up. The IRS is not going to call demanding money and will not threaten to arrest, deport, or revoke an individual’s license if the money is not paid immediately. According to the IRS, contact to taxpayers is likely to occur via mail.
Washington, D.C. – Ah, summertime! Warm days, rest and recreation and…tax scams. Thieves don’t stop victimizing unsuspecting taxpayers with their scams after April 15th. Identity theft, phone and phishing scams happen year-round.
Those three top the IRS’s ‘Dirty Dozen’ list of tax scams this year. Here’s some important information you should know about these common tax scams.
Washington, D.C. – Many parents pay for childcare or day camps in the summer while they work.
If this applies to you, your costs may qualify for a federal tax credit that can lower your taxes.
Here are 10 facts that you should know about the Child and Dependent Care Credit.
10 Provisions to be Highlighted on IRS.gov, in Publication 1
Washington, D.C. ― The Internal Revenue Service has announced the adoption of a “Taxpayer Bill of Rights” that will become a cornerstone document to provide the nation’s taxpayers with a better understanding of their rights.
The Taxpayer Bill of Rights takes the multiple existing rights embedded in the tax code and groups them into 10 broad categories, making them more visible and easier for taxpayers to find on IRS.gov.
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